FTSE 100 above 7K for First Time since Pandemicled Crash


London’s FTSE 100 rose above the 7,000-mark on Friday for the first time since the pandemic pummelled financial markets last year, as speedy vaccine rollouts and government policy support lifted investor sentiment about a stronger economic re-opening.

The blue-chip index climbed 0.3% to 7,005.68, with heavyweight banking, energy, mining stocks that stands to benefit from an economic recovery gaining between 0.3% and 1.1%.

Globally, sentiment was also bolstered after a batch of Chinese and U.S. economic data helped investors price in a solid recovery from the coronavirus-led slump.

The domestically focussed mid-cap FTSE 250 index gained 0.2%, hitting a record high.

Among stocks, Man Group rose 0.9% after the hedge fund manager posted a rise in funds it manages and said it expected its customers to put in more money in the coming quarters as client engagement was positive this year.

(Reporting by Devik Jain in Bengaluru; Editing by Subhranshu Sahu)

Source: Reuters


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